Regulatory Alerts2003-08-28 | 35-01-005-0009-01Withdrawal of Central Bank Cheque Book Facility for Commercial Banks and Primary Dealers
The Central Bank of Sri Lanka issued Circular No. 35/01/005/0009/01 to withdraw the cheque book facility for commercial banks and primary dealers effective 8 September 2003. This directive mandates that all settlement transactions be processed through the Real Time Gross Settlement (RTGS) System, with cheque usage restricted solely to declared emergency or contingency events. Institutions are instructed to retain one cheque book for such contingencies, return the remainder by the effective date, and strictly adhere to the LankaSettle Rules for payment instructions.
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